13
Jun
2023
In
What are key aspects of Tax Audit?
What are key aspects of Tax Audit? Tax audit is a cross-examination of the books of accounts of an organization to check their compliance with the Income Tax laws. It
All posts in Tax Process
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07
Dec
2022
In
What could be the potential implications in case of non compliance of Section 206AB?
What could be the potential implications in case of non compliance of Section 206AB? In case of non compliance of 206AB, the TDS so deducted and deposited by the business
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29
Nov
2022
In
Which years are relevant for F.Y. 2021 -22 based on the definition of ‘Specified Person’ for the purpose of Section 206AB?
Which years are relevant for F.Y. 2021 -22 based on the definition of 'Specified Person' for the purpose of Section 206AB? The specified person for the purpose of 206AB is
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20
Oct
2022
In
What is the meaning of transaction date and date of booking mentioned in form 26AS?
What is the meaning of transaction date and date of booking mentioned in form 26AS? Transaction date means the date on which the TDS was deducted / submitted in the return filed by
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12
Oct
2022
In
What is the applicability of TDS under Section 194Q?
What is the applicability of TDS under Section 194Q? If a taxpayer has a turnover of >INR 10 crores in the previous financial year or has reached a turnover of
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21
Sep
2022
In
How does reconciliation happen over multiple accounting periods?
How does reconciliation happen over multiple accounting periods? Reconciliation is a continuous activity but when it comes to 26AS reconciliation, the first and last quarter of an accounting year have
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30
Aug
2022
In
What if a company has deducted excess TDS and deposited with the Government?
What if a company has deducted excess TDS and deposited with the Government? Deductee can request their customer (Deductor) to revise/adjust the entry before such return has been filed so
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16
Aug
2022
In
How frequently should a company reconcile TDS receivable ledger with Form 26AS?
How frequently should a company reconcile TDS receivable ledger with Form 26AS? The objective of 26AS reconciliation is to match the transactions done with a particular customer to ensure whether
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05
Aug
2022
In
How are TDS and TCS different from one another?
How are TDS and TCS different from one another? TDS vs 2TCS Deduction that has to happen on the face value of the goods or services or transactional value TCS
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15
Jul
2022
In
Why do we need reconciliation of TDS Receivables?
Why do we need reconciliation of TDS Receivables? Rule 37BA of the Income Tax Rules TDS Credit is allowed when the corresponding income is accounted in the income tax return.
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